Platinum Prices Fluctuated Intraday, Absolute Prices Remained Near Recent Highs with Scarce Downstream Consumption [SMM Daily Review]

Published: May 13, 2026 11:46

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Platinum prices were in the doldrums intraday. In the morning session, the most-traded GFEX platinum contract PT2606 closed at 527.35 yuan/gram, down slightly by 0.02%. The SGE Pt9995 versus GFEX PT2606 spread remained in backwardation. Spot side, mainstream quotations for spot platinum premiums were largely unchanged from the previous trading day. Morning mainstream quotations from traders were at a discount of 3-5 yuan/gram to GFEX PT2606, with some platinum warrant quotations relatively high. Transaction side, according to SMM, downstream procurement sentiment remained weak due to high absolute prices. Morning mainstream quotations at a 3-5 yuan/gram discount to GFEX saw almost no transactions, and platinum warrants also saw scarce transactions due to high quotations. The spot market overall continued to be sluggish.

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